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3. Bank of America® Travel Rewards credit card: Simple rewards with no annual fee

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132

reviews

3.1

Rating: 3.1 out of 5.

Editors’ Take: This card offers simple rewards with no annual fee. That means little friction for travelers, even if other cards offer more value.

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Great for travel rewards with no annual fee

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Annual fee: $0

The average credit score for members who have matched with this card or similar cards is 697

The average credit limit for members who have matched with this card or similar cards is $9,713

Explore more about this card:

• Pros and cons
• In-depth Editorial review
• Member reviews

Here’s the average credit limit of members who matched their Bank of America® Travel Rewards credit card or similar cards.

% of members by credit limit range

The average credit limit for members who have matched with this card or similar cards is $9,713, with $10,000 being the most common.

Here’s the average credit score of members who matched their Bank of America® Travel Rewards credit card or similar cards.

% of members by credit score range

The average credit score for members who have matched with this card or similar cards is 697, with 810 being the most common. Note this is just one of the deciding factors when it comes to getting approved.

This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

Member stats

Updated daily

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31.3%

Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.

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45 years

Average age of members who matched this card or similar cards.

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$96,656

Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.

Pros and cons

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Introductory APR on purchases and balance transfers

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Flat earnings rate on all purchases makes for straightforward redemptions

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Several ways to redeem points

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No major travel perks

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Lack of bonus rewards categories could limit points-earning potential

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Smaller sign-up bonus compared with some annual-fee cards

Bank of America® Travel Rewards credit card

Updated October 17, 2024

This date may not reflect recent changes in individual terms.

Written by: Ben Luthi

Bank of America® Travel Rewards credit card: Core features to know

Potential for lucrative rewards

The Bank of America® Travel Rewards credit card offers 1.5 points for every $1 spent on all purchases, plus 25,000 bonus points if you make at least $1,000 in purchases within the first 90 days from account opening. That’s decent for a card with no annual fee, but it doesn’t compare with some of the top travel credit cards out there.

But if you have a strong relationship with Bank of America and spend a lot on travel, there’s potential to rack up rewards more quickly.

• All travel purchases — excluding insurance — made through the Bank of America Travel Center earn three points (1.5 bonus points and 1.5 base points) for every $1 spent.
• Qualified Preferred Rewards clients can earn between 25% and 75% more points on every purchase, giving them between 1.87 and 2.62 points for each $1 spent.

To qualify as a Preferred Rewards client, though, you need an active, eligible Bank of America checking account and a three-month average combined balance of $20,000 or more in qualifying Bank of America bank deposit accounts and/or Merrill investment accounts. But that’s a pretty high threshold to qualify for this offer, so it might not be an option for many potential cardholders.

Flexible redemption options

With the Bank of America® Travel Rewards credit card, you don’t have to use certain websites or deal with blackout dates or award restrictions. You can redeem points for many different kinds of travel-related purchases, and you have the flexibility to redeem your points for a statement credit to cover the cost of those purchases.

What’s more, lots of different purchases made with the Bank of America® Travel Rewards credit card are categorized as travel-related purchases. And you can redeem your points for a travel credit or cash rewards to offset these common travel purchases like airlines and hotels, vacation rentals and baggage fees.

Additionally, you can redeem your points (for the same value) for dining purchases like restaurants and takeout orders.

Limited perks

The rewards options for the Bank of America® Travel Rewards credit card are solid, but don’t expect many extra perks and benefits.

As a new cardholder, you’ll get an introductory 0% APR promotion in addition to the sign-up bonus mentioned before. The promotion offers an introductory 0% APR for 15 billing cycles for purchases as well as for balance transfers made in the first 60 days from account opening. After that the variable APR for both purchases and balance transfers ranges from 18.24% - 28.24%. The fee on balance transfers is 3% for 60 days from account opening, then 4%. The deal can come in handy if you need to make a large purchase or finance a trip and pay it off over time.

But beyond that, there aren’t any other benefits that stand out, including travel-related perks. If you’re looking for a card that offers a lot of travel benefits in addition to rewards, this card may not be the best choice for you.

Other card details to know

While the Bank of America® Travel Rewards credit card doesn’t have a lot of standout benefits, it does have some nice additions worth mentioning.

• Access to your FICO® score
• Mobile wallet compatibility
• $0 Liability Guarantee for fraudulent transactions
• Foreign transaction fees? None.

Understanding your points and redemptions

If you redeem the points you earn with the Bank of America® Travel Rewards credit card for travel or dining, they’re worth 1 cent apiece. But there’s also a minimum redemption amount of 2,500 points, for a $25 statement credit.

You can also redeem your rewards for cash back and gift cards, but we don’t recommend it. That’s because the minimum amount of 2,500 points will get you only $15 in cash back. Gift card redemption values can vary in value, but they start at 3,125 points.

To use your points, simply use your card to book your trip or pay at a restaurant, and then use your points to get a statement credit to offset the purchase. What’s more, your purchases are eligible to be covered by statement credits up to 12 months after the transaction posts to your account.

Who this card is good for

The Bank of America® Travel Rewards credit card is worth considering if you want a travel credit card but don’t want to worry about earning and redeeming enough points to cover the cost of an annual fee. It’s also good for cardholders who prefer the simplicity of a straightforward rewards program.

On the flip side, you may want to avoid the card if your goal is to maximize your rewards, especially if you’re not a Preferred Rewards client. There are some other travel rewards cards that offer bigger sign-up bonuses, higher rewards rates and more valuable perks — but you’ll probably need to pay an annual fee.

Not sure this card is right for you? Consider these alternatives.

If you’re on the fence about the Bank of America® Travel Rewards credit card or you just want some other cards to compare it with, here are some of our top choices and who might consider them.

• Bank of America® Premium Rewards® credit card: This card can be a nice option if you like Bank of America and want the opportunity to get more rewards and perks.
• Chase Sapphire Preferred® Card: If you want to maximize the flexibility and value of your rewards, this card could be a solid choice.
• Capital One Venture Rewards Credit Card: This card could be a good fit if you want additional travel perks and don’t mind an annual fee.